Seen: Acquisition in Dubai

By Claude Legilux

Posted on 08/06/2021 7:43 AM

(Boursier.com) – Visiomite Group Announces the acquisition of the entire capital of Smart Salem (Smart Salem.E), the only Digital Medical Center (DHA) accredited by the Dubai Ministry of Health and the United States Directorate General of Residential and Business Foreign Affairs (GDRFA) in the United Arab Emirates.

By 2021, Smart Salem is targeting a turnover of over 13 ME and a net profit of around 50%. At the end of June 2021, Smart Salem generated revenue of 7.4 ME, in line with its annual scope. As part of its development plan, Smart Salem aims to have a turnover of 16 ME and a net profit of 9 ME by 2022, and then, by 2023, a turnover of 20 ME and a net profit of 12 ME. The Visiomet Group confirms its ability to accelerate its growth through strategic external development activities that deliver significant synergies.

Visiomed Group has acquired 100% of the capital of Smart Sale based on an estimate of 4 times the net profit expected in 2021. The fee is spread between 2021 and 2022 and includes a portion of VISIOMED shares payable to the group with a commitment to retain the securities for at least 12 months.

The acquisition will finally change after the approval of local authorities, which should take place in the coming days. Smart Salem will be integrated into Visiomet Group’s accounts from the date of final acquisition.

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